Press release
Grab Reports Fourth Quarter and Full Year 2022 Results
Q4 2022 Revenue grew 310% year-over-year to $502 million, and 2022 Revenue grew by 112% year-over-year to $1,433 million1 Q4 2022 GMV grew 11% year-over-year
About this update from Grab Holdings Limited
[{"type":"text","content":"\n\nQ4 2022 Revenue grew 310% year-over-year to $502 million, and 2022 Revenue grew by 112% year-over-year to $1,433 million1\n\n\nQ4 2022 GMV grew 11% year-over-year to $5.0 billion, and 2022 GMV grew by 24% year-over-year to $19.9 billion\n\n\nQ4 2022 Loss for the period improved by 64% year-over-year to $391 million, with 2022 Loss for the year improving by 51% year-over-year to $1,740 million\n\n\nGroup Adjusted EBITDA breakeven guidance brought forward to the fourth quarter of 2023 from the second half of 2024\n\n\n SINGAPORE--(BUSINESS WIRE)--\nGrab Holdings Limited (NASDAQ: GRAB) today announced unaudited financial results for the fourth quarter and full year ended December 31, 2022.\n\n“Our 2022 and fourth quarter results demonstrate our commitment to accelerating our path to profitability. In the fourth quarter, we achieved revenue growth of 310% year-over-year (“YoY”)1, while improving our Group and Deliveries Segment Adjusted EBITDA margins and maintaining regional category leadership across our Mobility and Food Deliveries businesses. We achieved these results by focusing on capturing the rebound in Mobility demand, optimizing our costs, reducing our cost-to-serve and innovating on products and services that drive stickiness and engagement within our ecosystem. As we look ahead, we will remain laser-focused on driving sustainable growth, and improving the efficiency of our ecosystem,” said Anthony Tan, Group Chief Executive Officer and Co-Founder of Grab.\n\n“We are pleased to report a strong set of results, with full year revenues and second half 2022 Adjusted EBITDA coming in well above our guidance ranges. In the fourth quarter, we recorded strong year-over-year growth in Mobility revenue of 78%, and in our Deliveries segment, we focused on driving a more profitable and sustainable business, which resulted in Deliveries Segment Adjusted EBITDA margins improving substantially on a year-over-year and quarter-over-quarter basis. This sets us up for a strong 2023 as we continue to focus on growing in a sustainable manner by driving cost efficiencies across our organization, and driving margin improvements whilst being prudent with our capital. We are accelerating our group breakeven outlook on an Adjusted EBITDA basis to the fourth quarter of 2023, earlier than our prior expectations of the second half of 2024,” said ...